Cards

Tracking vendor payments on a 1099 statement

If you wish to report payments to vendors for inclusion on a 1099 statement, select how you wish to report the payments by choosing from the list of categories in the Report Payments on 1099 as: field of the Buying Details view of the Card Information window.

In order for the Report Payments on 1099 as: field to be available, payroll must be set up in your company file. AccountEdge requires the calendar year structure provided by the payroll feature in order to track 1099 payments for the tax year.

If the Report Payments on 1099 as: field appears in this view, payroll has already been set up in your company file and you can track bill payments on 1099 statements for vendors you designate as 1099 vendors. If the field doesn't appear, you must set up payroll before you can track vendor payments on 1099 statements.

Setting up payroll to track 1099 payments

If you plan to use AccountEdge to record employee payments for your employees, use the Easy Setup Assistant from the Setup menu to set up payroll before you set up AccountEdge to track 1099 vendor payments.

If you don't plan to use AccountEdge to track payroll transactions for your employees -- that is, if you plan to use the AccountEdge payroll feature for 1099 purposes only -- you'll need only to load the payroll tax tables and enter the payroll year to set up payroll. When you set up payroll for 1099 purposes only, the date of the payroll tax tables you load has no effect on the tracking of 1099 payments; any tax table is usable.

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